In a surprising move New Jersey Devils forward Ilya Kovalchuk announced his retirement from the NHL today. Kovalchuk was under contract through 2025. In 2010 he entered a 15-year, $100 million deal, and as a healthy 30-year-old he will walk away from $77 million for what will likely be a return to the Russia's premier league, the Kontinental Hockey League. The Kovalchuk contract is the product of a failed attempt to exploit a loophole. Originally the two sides agreed to a preposterous 17-year, front loaded deal meant to game the salary cap. This resulted in the NHL fining the Devils $3 million, taking away their third-round draft pick in 2011, and a first-round draft pick in the year of...
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